Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Short Interest Up 9.1% in January

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 39,320,000 shares, an increase of 9.1% from the January 15th total of 36,040,000 shares. Based on an average trading volume of 17,180,000 shares, the short-interest ratio is currently 2.3 days. Approximately 1.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Advisers LP increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 21.2% in the 4th quarter. Two Sigma Advisers LP now owns 2,463,200 shares of the communications equipment provider’s stock worth $19,853,000 after purchasing an additional 431,300 shares during the last quarter. Tidal Investments LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 8.2% in the 4th quarter. Tidal Investments LLC now owns 32,681 shares of the communications equipment provider’s stock worth $263,000 after purchasing an additional 2,484 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.3% in the 4th quarter. Quantinno Capital Management LP now owns 592,128 shares of the communications equipment provider’s stock worth $4,773,000 after purchasing an additional 13,074 shares during the last quarter. Minot DeBlois Advisors LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $35,000. Finally, Millennium Management LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 234.6% in the 4th quarter. Millennium Management LLC now owns 6,744,940 shares of the communications equipment provider’s stock worth $54,364,000 after purchasing an additional 4,729,207 shares during the last quarter. Institutional investors own 7.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ERIC. StockNews.com cut shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ:ERIC opened at $7.87 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17. The firm’s fifty day simple moving average is $8.06 and its 200 day simple moving average is $7.84. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. As a group, research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.